[OPE-L:5387] Re: Re: Re: Re: Re: turnover time and surplus value

From: Allin Cottrell (cottrell@wfu.edu)
Date: Sun Apr 22 2001 - 23:43:19 EDT

On Sun, 22 Apr 2001, Rakesh Narpat Bhandari wrote:

> The upward effect on the profit rate which my simple example
> demonstrated is manifestly not derived from any reduction in the
> stock of products held in factories and warehouses. It obviously
> derives from a reduction in the variable capital which must be
> advanced to appropriate a given sum of surplus value. For some
> reason, this appears to you and Charlie not to be a rise in the rate
> of exploitation.

Marx's rate of exploitation, s/v, maps onto the division of the
aggregate working day into its surplus and necessary components.  s/v
rises if the working day is lengthened, cet.par., or if the time of
necessary labour is shortened, via an intensification of labour or an
improvement in technology which permits the workers to produce their
own subsistence in a shorter time.  Any other putative reason for an
increase is s/v is flim-flam based on stock-flow confusion.

Allin Cottrell.

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